Janus International Group (NYSE:JBI) Shares Up 9.2% - Should You Buy?

Janus International Group, Inc. (NYSE:JBI - Get Free Report)'s share price was up 9.2% during mid-day trading on Tuesday . The stock traded as high as $8.97 and last traded at $8.89. Approximately 276,306 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,873,811 shares. The stock had previously closed at $8.14.

Analysts Set New Price Targets

Separately, KeyCorp boosted their target price on shares of Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.00.

Janus International Group Stock Up 0.7%

The firm has a 50 day moving average of $7.98 and a 200-day moving average of $7.74. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.59 and a quick ratio of 2.21. The stock has a market capitalization of $1.24 billion, a P/E ratio of 24.99 and a beta of 1.24.

Janus International Group (NYSE:JBI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. The business had revenue of $210.50 million for the quarter, compared to analysts' expectations of $200.73 million. Janus International Group had a return on equity of 13.38% and a net margin of 5.49%. Janus International Group's quarterly revenue was down 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. On average, equities research analysts expect that Janus International Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Janus International Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 15th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Janus International Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in Janus International Group by 74.9% in the fourth quarter. FMR LLC now owns 14,544,033 shares of the company's stock worth $106,899,000 after purchasing an additional 6,227,738 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of Janus International Group by 536.5% in the 4th quarter. River Road Asset Management LLC now owns 5,197,675 shares of the company's stock worth $38,203,000 after buying an additional 4,381,017 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Janus International Group by 914.9% during the 1st quarter. American Century Companies Inc. now owns 3,633,684 shares of the company's stock worth $26,163,000 after buying an additional 3,275,656 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Janus International Group by 31.0% during the 4th quarter. JPMorgan Chase & Co. now owns 9,332,406 shares of the company's stock worth $68,593,000 after buying an additional 2,207,140 shares during the period. Finally, Senvest Management LLC lifted its position in shares of Janus International Group by 47.0% during the 4th quarter. Senvest Management LLC now owns 5,671,431 shares of the company's stock worth $41,685,000 after buying an additional 1,812,602 shares during the period. 88.78% of the stock is owned by institutional investors.

About Janus International Group

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.